Kunshan Tianyang Photovoltaic Materials Co., Ltd. announced that it will receive CNY 34,805,774.1 in an equity round of funding on February 3, 2023. The transaction will include participation from returning investor, Tianyang New Materials (Shanghai) Technology Co., Ltd. The funds receive CNY 34,805,774.1 though capital increase of which CNY 34,000,000 will included in the paid-in capital and the rest CNY 805,774.1 will included in the capital reserve of the company. Post closing, the investor still holds 100% stake in the company.

The transaction has been reviewed and approved in the third meeting of the fourth board of directors and the third meeting of the fourth board of supervisors of the investor.